Steel market in India looses a long drawn battle
"Week 19 proved to be turning point in long product market with widespread cracks appearing across the nation. Economy and government in a logjam over acute monetary crisis and plummeting indicators can barely augur well."

Chaos, Derivatives, and Quantum Physics
"Every day the financial markets get more chaotic—a fact that couldn't be made any more clear than with a recent revelation given by ex-physicist and author, Nick Dunbar, in describing a new level of complexity facing banks and derivatives. Ironically, Thursday night's emergency conference call by JP Morgan of a massive $2 billion unavoidable loss is perhaps a confirmation of what banks are now starting to grapple with."

"AMR Corp, parent of American Airlines, bowed to pressure on Friday from its unsecured creditors, including its largest labor unions, and said it would explore merger options while it is still in bankruptcy."

"Thousands of Spaniards fed up with economic misery and waving banners against bankers marched on Saturday to mark the first anniversary of the grassroots "Indignados" movement that has sparked similar protests around the world."

Fuel worth USD 5 million stolen monthly from Basra
"AKnews reported that more than USD 5 million worth of fuel is stolen each month from the amount allocated to three Turkish barges that produce power in Basra, a government investigation has revealed.
"The Iraqi Electricity Ministry announced the discovery from an ongoing investigation into fuel theft. The Turkish barges were used to help compensate for the acute shortage of energy in the region."

Here we have the laughably absurd, mad ravings of the Old Guard, which believes in expanding population to make more consumers and feed infinite growth. Pay no attention to that man behind the curtain! -- RF

Japan to avoid mandatory power saving in summer-media
"Japan will not impose mandatory restrictions on power consumption in parts of the country this summer, relying instead on voluntary saving measures following the shutting down of nuclear power reactors, the Yomiuri newspaper said on Saturday."

Power-saving to be requested for wide areas of Japan this summer
"The government is considering asking companies and households in wide areas of central and western Japan to cut electricity use by around 5 percent of the maximum demand recorded during the very hot summer of 2010, sources close to the issue said Saturday."

TEPCO to offer billing system to curb summer power use
"Facing criticism over its planned price hikes, Tokyo Electric Power Co. will offer consumers a 'peak shift plan,' which charges more for power during afternoon hours but reduces the rates at night."